Holidays for Finance Companies
| No: 361000107380 | Date(g): 25/5/2015 | Date(h): 7/8/1436 | Status: In-Force |
Translated Document
Based on Article 21 of the Finance Companies Control Law and Article 2 of the Implementing Regulation of the Finance Companies Control Law, SAMA would like to adhere with the following regarding the holidays and the National Day of the Kingdom:
First: Eid al-Fitr Holiday
The Eid al-Fitr holiday for finance companies operating in the Kingdom and their branches is set each year for four days, starting from the day following the 29th of Ramadan (according to the Umm al-Qura calendar).
Second: Eid al-Adha Holiday
The Eid al-Adha holiday for finance companies in the Kingdom and their branches is set each year for four days, starting from the Day of Arafah.
Third: National Day Holiday in the Kingdom
The first day of the Libra, the beginning of the solar Hijri year, corresponding to September 23 of the Gregorian year, is an official holiday for all finance companies operating in the Kingdom and their branches, if this day falls on a Saturday, it is compensated by the following Sunday, if it falls on a Friday, it is compensated by the preceding Thursday, otherwise the National Day is not compensated if it coincides with another official holiday.
Fourth: In the event of any amendments to the holiday dates (paragraphs: First and Second), SAMA will issue a circular accordingly.